Baird Remains Sidelined on Grace (GRA) Following Mixed 2Q Results

Baird reiterated a Neutral rating and $76.00 price target on W.R. Grace & Co. (NYSE: GRA) following the company's 2Q earnings report. GRA reported revenue of $390.5M vs. consensus estimates of $405.9M. Non-GAAP EPS of $0.74 beat the street's $0.67.

Analyst Ben Kallo commented, "GRA reported mixed results with light revenue, but margin was better than expected, driving adj. EBITDA and EPS to beat estimates. GRA narrowed 2016 adj. EBITDA and adj. EPS guidance to the lower end of its previous range, although catalyst volumes to Takreer will ramp in 2H:16, and GRA expects continued margin expansion in Materials Technologies. Although we like GRA’s competitive position and execution, we believe shares are fairly valued, and will wait for a better entry point before becoming more constructive."

For an analyst ratings summary and ratings history on W.R. Grace & Co. click here. For more ratings news on W.R. Grace & Co. click here.

Shares of W.R. Grace & Co. closed at $76.08 yesterday.

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